"It's Not the Peak in Gold Prices that I'm Concerned about, It's How Steep Is The Ride Down That Worries Me!"

"I'd like to hear what the Peak Gold Crowd thinks will happen following the crescendo of the gold manic phase."

Repeatly Jim Sinclair has said that the price of gold will not fall after the peak as it did after 1980. It may fall by as much as 20% from the top he said recently.

But unlike 1980, this is a world-wide currency crisis as all of the currencies are in one way or another tied to the U. S. dollar. This is causing a worldwide loss of confidence in UNBACKED paper currency. Whatever solution is finally brought forward it will have to include at least partial gold backing in order to instill confidence in any future paper currency and in order to prevent an immediate repeat of what we are about to go through; hence the gold price will not do a pratfall as it did after the 1980 runup.

I may not have worded things precisely but that is an approximation of the concept and what will result.

P.